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Sunday, August 15, 2004

Queen City Rewind


The week in business news in Greater Cincinnati and Northern Kentucky

HEADLINERS

RxBazaar in Forest Park laid off 40 of its 70 employees last week and said it has suspended purchases in the wake of a federal investigation of its drug sales practices. Its shares dropped 75 percent in one day to 10 cents.

Another sign that the economic recovery isn't universal: The number of Ohio home foreclosure auctions shot up 26 percent to 36,400 last year. Job losses or other financial woes take the blame.

Local Realtors appear ready to dump the Greater Cincinnati Multiple Listing Service web site, which attracts 30,000 hits a day from people looking for homes for sale. Local real-estate companies want to drive potential buyers to their own sites. Northern Kentucky Realtors are considering similar action with their web site.

Showcase Cinemas in Springdale will be among the first National Amusements theaters nationally to install a large-screen Imax theater. Another sign that suburban entertainment complexes are booming.

KENTUCKY CONNECTIONS

Delta Air Lines celebrated its 75th anniversary with ceremonies at Cincinnati/Northern Kentucky International Airport. But the shadow of a possible Chapter 11 bankruptcy filing made the moment bittersweet for the beleaguered airline and its employees.

The Wireless Store in Covington and the Bank of Kentucky have joined with Nextel to introduce a cell phone with a swipe device that allows anyone with a cellular signal to get a credit-card authorization on the spot. Convenient for both customers and small-business owners, this is the logical next step for the technology. And local small businesses are involved up front.

QUOTE OF THE WEEK

"It's outrageous hubris with a slight touch of mendacity." This from celebrity hair stylist Vidal Sassoon, describing Procter & Gamble Co.'s response to his lawsuit against the consumer products giant. After a ruling from a Los Angeles federal court judge this week, Sassoon can get his claims to trial this fall. Regardless of which side wins, Sassoon has the anger - and the money - to make it uncomfortable for P&G.




BUSINESS HEADLINES
Kentucky's Salsa Sisters
Fiorini on trial next week
Bank pouts simple savings
Look Who's Talking: James W. Noe
Eckberg: Good way to get raise? Brown nosing
School focus on software developers
Farmers, biotech firms in battle
Multiple births, multiple sales
Queen City Rewind
Business notes
Business agenda



 

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